2023-2029 is the forecast period in the market report
Nuts are considered an essential source of plant-based proteins. Nuts are a nutritionally rich food, containing most of the vitamins and minerals the body needs. It contains unsaturated fatty acids and high-quality vegetable protein, fiber, minerals, tocopherols, phytosterols, and phenolic compounds. In European countries, nuts are consumed as snacks, desserts, or part of a meal, and are eaten whole (fresh or roasted), in spreads (peanut butter, almond paste), as oils or hidden in commercial products, mixed dishes, sauces, pastries, ice creams and baked goods. The growth of the Europe Nut Products market is driven by key factors like, an increasing awareness among people to maintain a healthy lifestyle, the rise in popularity of veganism, and the widespread adoption of nut products in different applications. Furthermore, the rise in launch of innovative products is expected to positively contribute to the growth of the market.
The growth of the market is driven by an increasing awareness among people about maintaining a healthy lifestyle. According to the 2017 IRI survey on the healthy-eating habits of shoppers in seven European markets, more shoppers across Europe are buying healthy (food without added salt and sugar and with less fat and fewer calories), vegetarian, organic and free-from food. The survey showed vegetarian food is purchased by 39% of shoppers. Thus, rising awareness among people about maintaining a healthy lifestyle is expected to create a demand for nutritional foods like nuts. This is expected to drive the growth of the market over the forecast period. Furthermore, rise in vegan population is expected to positively impact the growth of the market. According, to a 2020 survey conducted by Berlin-based vegan supermarket chain Veganz, within four years the number of vegans has doubled from 1.3 million in 2016 to 2.6 million in Europe. Thus, the rise in vegan population is expected to drive the demand for nutritional foods like nuts.
Health benefits provided by nuts has gained major attention of consumers. It is expected to provide ample opportunity for the growth of the market. Furthermore, the presence of favourable regulatory scenario in European nations, as well as technological advancements in production, and manufacturing activities are key factors which are likely to contribute to the growth of the market.
The raw materials for nut-based products are not available easily. It is likely to hamper the growth of the market. Additionally, price volatility in plant extracts is expected to restrain the growth of the market over the forecast period.
Nuts (processed or unprocessed) are susceptible to contamination throughout the supply chain. It may negatively impact the growth of the market. Also, the high cost associated with nuts is expected to challenge the market growth over the forecast period.
The report provides an in-depth analysis of the Europe Nut Products Market, market size, and compound annual growth rate (CAGR) for the forecast period of 2023-2029, considering 2022 as the base year. An increase in health awareness has led to rise in demand for nut products in various applications, and therefore, the market is expected to witness growth at a specific CAGR from 2023-2029.
The Europe Nut Products market comprises of different market segments like product type, nut type, distribution channel, application and country.
By product type, the Europe Nut Products market includes the key segments like
The nut paste segment is expected to dominate the market over the forecast period. Nut paste is a widely-used ingredient for confectionery preparations such as ice cream, creams, biscuits, chocolates. . Marzipan (almond paste) and persipan (apricot or peach kernels) are mainly used by the food industry in several traditional recipes, including croissants and Danish pastries.
The nut butter is expected to grow at the fastest CAGR. Nut butter used to replace butter or margarine on bread or toast. It is high in protein, fiber and essential fatty acids.
By nut type, the Nut Products market is segmented into
The hazelnut segment is expected to lead the market over the forecast period. Hazelnuts are considered as an affordable, nutritious and high-calorie food product. It is easily available to consumers through retail. It is a key factor fuelling the growth of the segment. Furthermore, an increase in demand for nuts due to the presence of a high concentration of antioxidants and healthy fats is expected to drive the growth of the segment.
The peanut segment is projected to witness high growth over the forecast period. The rise in consumer health concerns have increased demand for low-carb foods to protect against health complications. This has fuelled the demand for peanuts.
The Europe Nut Products market includes distribution channels like
The offline segment is expected to dominate the market over the forecast period. Easy access of various nut products through retail stores is a key factor that is expected to drive the growth of the segment. Also, consumers prefer to purchase consumer goods, groceries, food products where they can physically check the quality of the products. This is possible through offline sales channels.
The online segment is expected to witness high growth over the forecast period. The rise in acceptance of the e-commerce industry for purchasing consumer goods and groceries owing to the internet penetration is a major factor driving the growth of the segment.
The Europe Nut Products market finds key applications in
The industrial food manufacturers are expected to dominate the market over the estimated time period. Nuts are widely used in the chocolate confectionary industry as they offer a crisp texture, taste along with key health benefits. Hazelnuts, nuts and almonds are the most popular varieties of nut inclusions. Hazelnuts are widely used in the European chocolate industry.
Furthermore, the bakery products segment is expected to witness high growth over the forecast period. Nuts in their various powder forms can provide many features to baked food products.
The Europe Nut Products market is studied for the following countries
Germany is expected to dominate the market over the forecast period. A high consumption of bakery products, along with rise in vegan population in Germany are key factors driving the demand for nut products in the region.
The U.K is anticipated to witness high growth during the estimated time period owing to rising health awareness among consumers along with a rise in the launch of innovative products. For instance, Meridian Foods had claimed to be the first UK nut butter brand to launch a line with 100% nuts, no palm oil, sweeteners, or salt. The company at present offers 6 nut varieties, from traditional ‘Peanut’, all the way to ‘Peanut & Berry’ and ‘Cashew’, while considering these innovations as important differentiators in an increasingly saturated market.
Axiom MRC provides a 360-degree analysis of micro and macro-economic factors on the Europe Nut Products market. In addition, a complete analysis of changes on the Europe Nut Products market expenditure, economic and international policies on supply and demand side is provided in this exclusive report. The report also studies the impact of pandemic on Europe economies, international trade, business investments, GDP and marketing strategies of key players present in the market.
The spread of COVID-19 has severely disrupted trade and supply chains between the countries, leading to a negative influence on the global economy. Most companies have been affected by the challenges, and the effects of the health crisis are expected to continue for many months. The pandemic had a positive effect on the market due to a rise in health awareness among the general population which has stimulated the demand for nutritional foods like nuts. According to a 2022 GfK Health, Hygiene and Wellbeing report, 49% of consumers in Germany, France, Italy, and Spain now actively seek solutions that support a healthier lifestyle. Thus, the rise in health awareness is expected to contribute to the growth of the market in the upcoming years.
The competitive landscape analysis of Europe Nut Products market is majorly focused on expanding the growth of nut products industry in Europe region with new product innovation, and business expansion. An increasing presence of range of manufacturers operating in nut products sector has led the growing demand for the market. Besides, the market offers a range of products in different applications to fulfil the required demand of consumers which further contributes healthy growth in the market.
The key players studied in market are
April 2022: UK-based start-up company Nuccy launched a new range of nut-based butter, featuring Ashwagandha in each of three flavors including Almond Coco, Peanut Coco, and Hazel Coco. Further, the company claims that the butter range is naturally vegan, sugar-free, and palm oil free.
January 2022: B.T. Sweet, Ltd. a Food-tech start-up announced the launch of Cambya hazelnut and chocolate spreads with low sugar in the United Kingdom market.
EUROPE NUT PRODUCTS MARKET SUMMARY
By product type, the Nut Products market includes segments like, nut butter, nut pastes/ marzipan paste/ persipan paste, nut fillings with cocoa, nut fillings without cocoa, caramelized nuts and nut flour. The nut paste segment is expected to dominate the market over the forecast period. By nut type, the Nut Products market is segmented into almonds, hazelnuts, walnuts, cashews, peanuts, pistachios, macadamias, pecans, pine nuts and Brazil nuts. The almonds segment is expected to maintain its dominance over the estimated time period. The Nut Products market has distribution channel like offline and online. The offline segment is expected to dominate the market over the forecast period. The Nut Products market finds major applications in industrial food manufacturers, chocolate confectionery products, bakery products, ice cream and frozen desserts, cereals and snack bars, beverages, savoury products, foodservice and bakeries and others. The industrial food manufacturers segment is expected to dominate market during the forecast period. The Europe Nut Products market is studied for countries like Germany, U.K, France, Italy, Spain, and Rest of Europe. Germany is expected to dominate the market over the forecast period.
SCOPE OF THE REPORT:
Sizing for Year:||2019-2029|
Players and its Competitors:|
Borges Agricultural & Industrial Nuts
Hines Nut Company
Mariani Nut Company
John B. Sanfilippo & Son
Kraft Foods Inc.
Germack Pistachio Company
Hampton Farms, Inc.
Star Snacks Co., LLC
Fresh Nuts GmbH
Georg Lemke Gmbh & Co. KgAlmendras Llopis S.A.U.
What would be forecast period in the market report?
2023-2029 is the forecast period in the market report
Which is the leading application segment for Europe Nut Products market?
The industrial food manufacturers segment is expected to lead the market during the forecast period.
Which country is gaining majority of market share during the forecast period (2023-2029)?
Germany is expected to gain a major share of the market over the forecast period (2023-2029).